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Enterprise Products Partners has priced a public offering of $2.5 billion aggregate principal amount of notes, the company announced Aug. 1.
The aggregate notes comprise $1.1 billion principal senior notes due Feb. 15, 2035 and $1.4 billion principal senior notes due Feb. 16, 2055.
The $1.1 billion notes will be issued at 99.400% of their principal amount and will have a fixed-rate interest coupon of 4.95%. The $1.4 billion notes will be issued at 99.63% of their principal amount and will have a fixed-rate interest coupon of 5.55%.
The offer is set to settle on Aug. 8.
Enterprise expects to use the net proceeds of the offering for capital investments and debt repayment, including repayment of its $1.15 billion principal 3.75% senior notes due 2025.
Mizuho Securities USA LLC, Barclays Capital Inc., BMO Capital Markets Corp., SMBC Nikko Securities America, Inc. and Wells Fargo Securities LLC acted as joint book-running managers for the offering.
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